XBT Price (XBT)

What is XBT (XBT)

Small bit public blockchain encrypted data network system, referred to as XBT public chain. It is a "new, global and ecological" public blockchain encrypted data network system.

XBT public chain is just like Android / Apple system of mobile phone version and windows operating system of computer version. XBT public chain supports various DAPP architectures and can meet various commercial or application needs, such as finance, agriculture, social networking, education, employment, pension, public welfare, health care, commodity anti-counterfeiting, food safety and many other fields. It is a global big data, artificial intelligence, network security project XBT is a blockchain technology service system that everyone can participate in, fair and open.

XBT public chain uses the most advanced blockchain 3.0 technology

Bitcoin used the most advanced hash algorithm Sha2 at that time. Later, Ethereum used the more secure and reliable high-quality algorithm keccak. Now, little bit uses the latest algorithm Sha3 adjusted by NIST (National Institute of standards and Technology).

Application value of XBT small bit

Like bitcoin, XBT is based on Mathematics and cryptography to encrypt data. It does not have any value in itself. However, unlike bitcoin, XBT has the main bridge and security function in the encrypted data network system of small bit public blockchain. The security function is indispensable, which requires that all gateways participating in this protocol must maintain the security There's XBT.

XBT has been applied to: scan your blockchain anti-counterfeiting platform, touch app (big data AI intelligent blockchain social platform) AI chain, Shizhen nourishing app, zhunzang app, cook blockchain ecological platform, abckids, Centennial will, shenbi MALIANG intellectual property platform, huiziyang travel project and Pujiang smart agriculture project.

XBT can freely access any government, enterprise or individual project that needs blockchain technology for service, from platform to online store.

The total amount of xbts is fixed. The operation of these applications requires the use of xbts as fuel. Xbts are continuously consumed (permanently destroyed), and xbts will be destroyed in daily output transactions. This means that the circulation of xbts will continue to decrease.

When XBT becomes the mainstream payment protocol in the world, the demand of gateway for XBT will be more extensive, the demand is strong, but the circulation quantity is decreasing, which will lead to the faster appreciation of XBT.

Working principle of XBT public chain system

Using gateway or XBT as a bridge, user a can convert any kind of encrypted data or virtual encrypted data into XBT, and then send it to user B in any other region. User B can convert the received encrypted data into any encryption data currency he needs. There is another mode, user a will store the encrypted data in the gateway trusted by user B, and pass through the gateway Transfer to B. XBT small bit system also allows users to issue "private encrypted data" in the system. If a XBT small bit user a has a good reputation, he can exchange his "private encrypted data" with another user (user B), who trusts him (user a) and is willing to accept it, into US dollars or bitcoin and other currencies; user B can redeem the encrypted data exchanged to him according to his needs. This is actually a lending process. User a has the financing right to borrow from others.

As far as the overall structure of XBT small bit system is concerned, this system adopts a "decentralized" architecture. Generally speaking, it is a decentralized Internet encrypted data exchange and transaction system covering fully encrypted data currency.

XBT maintains a public distributed general ledger of the whole network. The agreement has "consensus mechanism" and "verification mechanism", through which transaction records are added into the general ledger in time. XBT small bit system will generate a new account splitting instance every few seconds, and the new transaction records generated in these seconds will be quickly verified according to the consensus and verification mechanism. Such sub accounts are arranged and linked in chronological order to form the general ledger of the little bit system. Small bit's "consensus mechanism" enables all nodes in the system to automatically receive updates to the general ledger transaction records within a few seconds, which does not need to go through the central data processing center. This extremely fast processing method is a major breakthrough in the small bit system.

Compared with the data record packing method and transaction confirmation method of bitcoin, the small bit system has two differences: one is that the packing speed of transaction record (block) is faster (bitcoin takes about ten minutes, while the small bit takes only a few seconds); the other is that the confirmation method of transaction record (block) is faster (bitcoin requires multiple nodes to confirm one by one, while the small bit is confirmed by all nodes at the same time) Recognition is the "consensus mechanism" of small bits. Therefore, it only takes 3 to 5 seconds for a new transaction to be confirmed in a small bit system, while bitcoin generally takes 40 to 50 minutes.

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